Business & Finance: Deals & Developments

Loree Present. In 1924 Railroader Leonor Fresnel Loree instructed his
broker to buy for him 14,000 shares of Missouri-Kansas-Texas Railroad
stock. A few weeks later, Kansas City Southern Railway Co., of which
Mr. Loree is chairman, decided to buy control of M.K.T. Shrewd Mr.
Loree made $144,000 on his M.K.T. stock. In 1928 the Interstate
Commerce Commission investigated Mr. Loree's trade, questioned his
ethics. Last week this annual report of Kansas City Southern revealed
that Mr. Loree last year paid over to the road his $144,000 profit. He
said his action was merely...